stolen from SRA… “VC Investment in Second Quarter At Its Lowest in Four Years
VentureReporter.net Tuesday, July 30, 2002, 2:09 PM ET
Venture capital investments in the second quarter of this year fell to the lowest level in nearly four years, according to a survey by PricewaterhouseCoopers, Venture Economics and the National Venture Capital Association, reports Washington Post.
The $5.7 billion of venture capital invested in the second quarter represented the industry’s lowest three-month volume since the quarter ended in September 1998. The money, disbursed to 819 companies nationwide, fell 53 percent from the same time last year when VCs doled out $12 billion to 1,376 companies, the survey said.
Two-thirds of the venture capital invested in the second quarter went into later-stage companies. Sectorwise, about $1.5 billion went into companies making biotechnology and medical device products, the survey found. That represented roughly one-fourth of the second quarter’s total venture capital investments–the highest percentage earmarked for the life sciences sector in five years.”